29 December 2015 | Article
Geothermal, like biomass-fired electricity and hydropower, is among the cheapest forms of generation where good resources exist, with costs as low as USD 0.04/kWh for the most competitive projects. Between 2007 and 2014, the LCOE of geothermal varied from USD 0.04/kWh for second-stage development of a field to USD 0.14/kWh for greenfield developments. Geothermal electricity generation is a mature, baseload generation technology that utilises steam or hot water from geothermally active areas to provide highly competitive electricity where high-quality resources exist. Enhanced geothermal techniques can also make geothermal viable in areas without good resources.